There is an open source project that does very similar: http://code.google.com/p/ipcamera-for-android/
It mainly uses LocalSocket cameras to read video and stream it from a web server. You should be able to find a lot of information in the source code.
If you want to broadcast over the Internet, for everyone to see, I can recommend you justin.tv service, which allows you to broadcast your stream to the entire Internet. If you tried and it works very well!
However, if there is no wifi, you will probably have a very weak connection if you do not convert smaller videos ...
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